Jeffrey David McCord and Martin David Lang are temporarily barred from high-level positions at registered companies for allowing Vertex to improperly incentivize dealers.
A now defunct stock portfolio manager and its two top leaders have agreed to pay a $300,000 fine to the B.C. Securities Commission for providing “improper incentives,” including sports and concert tickets, gifts, marketing expenses and social events, to investment dealers.
According to the commission’s Aug. 24 settlement agreement, Vertex breached mutual fund and securities rules by providing benefits totalling $151,322 to "dealer representatives." In 2021, Vertex ceased operations, after it sold mutual fund contracts to Pender Fund Capital in 2019 and its private wealth division to Harbourfront in 2020, according to news releases.Via his company Rocky Mountain Investment Management, Matthew Wood claimed in B.C. Supreme Court in 2022 that as an early shareholder of Vertex he was entitled to compensation upon his resignation from the company in June 2019.
McCord, who resides in an $8-million home in West Vancouver, may be a familiar name to some on the North Shore; his brush with the commission may not have happened had he not been pulled so quickly from the flaming wreckage of a small plane he was in when it crashed at Vancouver International Airport, in 2013.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Local Calgary sports advocate fundraising for adaptive sports and rehabilitationWatch Local Calgary sports advocate fundraising for adaptive sports and rehabilitation Video Online, on GlobalNews.ca
Read more »
David Sovka: In the battle of hummingbirds versus wasps, pick a sideHummingbirds are tiny marvels, a daily antidote to the modern disease of suspicion and scorn.
Read more »
Sports scoreboard for Sunday, Aug. 27, 2023Sunday's Scoreboard CFL Edmonton 30 Ottawa 20 --- MLB American League Cleveland 10 Toronto 7 (11 innings) Minnesota 7 Texas 6 (13 innings) Seattle 3 Kansas City 2 Houston 17 Detroit 4 Tampa Bay 7 N.Y.
Read more »
Elks beat Redblacks 30-20, snap 22-game home losing skidEdmonton Elks end longest home losing streak in North American professional sports history
Read more »
Theo Argitis: Will Trudeau’s government breach the David Dodge Rule?Rising bond yields are putting Ottawa on a costly path when it comes to servicing the debt. Read more.
Read more »
Theo Argitis: Will Trudeau’s government breach the David Dodge Rule?Rising bond yields are putting Ottawa on a costly path when it comes to servicing the debt. Read more.
Read more »